Business Insider, September 30, 2019: White Americans Make Up A Disproportionate Number Of US Homeowners, And It’s Most Extreme In New York City
A recent study by LendingTree, an online lending marketplace, tackled one of the most heavily talked about categories in American life — race. The analysis looked at how much race affects homeownership rates in the 50 largest US metro areas.
It found that in these areas, White Americans make up an average of 59% of the population and own about 73% of the owner-occupied homes, availing themselves to the wealth that can come along with real estate.
The gap found in this study speaks to an issue of racial inequality that extends beyond just the home-buying industry. For example, White Americans, on average, have higher average incomes and are more likely to have college degrees than Americans who identify with nonwhite races. These factors, along with other social factors, contribute to the homeownership gap.
